NFL Players to Get Financial Advice under New Partnership

The NFL Players Association announced it has partnered with Financial Finesse, a provider of financial education programs, to launch a program that gives NFL players the financial guidance they need to prepare financially for a lockout.

A joint press release said the partnership with Financial Finesse was created in an effort to ensure that every player has the information and tools they need to prepare financially for any potential obstacle and to establish lifelong financial security for themselves and their families.

The program will offer:

  • personalized financial assessments and education plans, as well as customized financial planning workshops;
  • tools, guidance, and education players need to make informed financial decisions in regards to day-to-day money management, as well as long-term financial planning needs;
  • ongoing support to effectively select and manage investment advisers in order to guard against fraud, negligence, or poor financial advice; and
  • help in evaluating the myriad of business opportunities available to players.

“There’s been a long standing need for this kind of financial education for our members who have unique circumstances that make financial planning particularly difficult,” NFLPA Executive Director DeMaurice Smith said. “With no guarantees in NFL contracts and the potential for a 2011 lockout, we want to make sure our members are prepared for injury or anything that cripples their career. We’d also like them to transition from football to a lifetime of financial security and independence—something that is possible only with smart financial planning.”

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McCready and Keene Releases Small-Market Platform

Benefits consultant and service provider McCready and Keene has unveiled a recordkeeping platform aimed at small-sized clients.

A news release said the open-architecture system for target employers with assets below $1.5 million includes daily valued investments offered at NAV without back-end loads, fully disclosed pricing, and 100% revenue-sharing to offset plan fees.

Other features include:

  • full-service in-house support;
  • plan consultation for an optimal design;
  • cross-tested plan design options and compliance;
  • annual compliance testing;
  • reports about participation, contribution levels, and performance;
  • sponsor and participant Web site access;
  • quarterly statements mailed to participants home addresses;
  • ROTH features;
  • auto-rebalance features;
  • enrollment materials;
  • full distribution services, including check-writing and 1099s; and
  • fee-for-service pricing with all revenue-sharing received used to offset administration fees.

 

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